Direct regulation of externalities take place at the ________ level.
A. federal
B. local
C. state
D. all of the above
Answer: D
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The medium of exchange is defined as
A) an object that is accepted in return for goods and services. B) the exchange of goods and services directly for goods and services. C) an item that can be stored and hold its value over time. D) credit cards. E) barter.
The figure above shows the demand and cost curves facing a price-setting firm. What is marginal revenue when output is 100 units?
A. $10 B. $35 C. $25 D. $20 E. $30
When the central bank buys $1,000,000 worth of government bonds from the public, the money supply:
A. decreases by $1,000,000. B. increases by more than $1,000,000. C. increases by less than $1,000,000. D. increases by $1,000,000.
A patent or copyright is a barrier to entry based on
A) ownership of a key necessary raw material. B) large economies of scale as output increases. C) government action to protect a producer. D) widespread network externalities.